Other Details of SBI SME Construction Equipment Loan

Processing fee: Minnimum Rs. 25,000 per equipment, subject to maximum Rs. 3 lakhs. In case of pre-approved line of credit, service fee to be charged based on disbursement made for purchasing equipment.

For Others: 2 years, 4% of the outstanding amount; Beyond 2 years, 2% of the outstanding amount.

Collateral Security: Minimum 25% collateral.

Special feature:

Pre-approved line of credit may be sanctioned to the customers for 12 months based on the projected purchase / deployment schedule of Construction Equipment and based on project / contract agreement disbursement can be made.

The premium of General Insurance for the first year will be financed under the scheme and can be repaid along with the regular repayment schedule.Pricing is not linked to CRA but linked to pricing matrix.

In case of satisfactory repayment (payment of instalment within 3 day from due date), after end of every year, 10 bps concession will be provided on the annualised interest rate till liquidation. In case repayment is not satisfactory during any year, no concession will be provided next year and same interest rate will continue to be charged for the entire tenor and no further concession will be provided.